Apple sells out iPhone X pre-order

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Phil Schiller, Apple’s senior vice president of worldwide marketing, announces features of the new iPhone X, including Face ID, at the Steve Jobs Theater on the new Apple campus, in Cupertino on Sept. 12. Apple’s new Face ID facial recognition system is due to debut with the iPhone X on Nov. 3. (AP Photo/Marcio Jose Sanchez, File)

SAN JOSE >> At 12:01 a.m. Friday, it was pandemonium on Apple’s website.

Thousands of Apple fans from around the world flooded the website to lock in their pre-orders for the iPhone X. Apple sold out pre-orders for the phone to arrive on the Nov. 3 launch day in 17 minutes, and the wait time had grown to five to six weeks by 7 a.m., according to longtime Apple watcher Gene Munster.

Despite major concerns over manufacturing the deluxe iPhone, which starts at $999, Munster believes the demand shown on Friday bodes well for Apple’s share price and future prospects.

“Current lead times are five-six weeks, which we view as a sign that demand for the iPhone X is trending more favorable than investor expectations,” wrote Munster on his blog. “Previously we had published that if lead times were below two weeks by Sunday, Oct 29, we would have viewed that as negative for initial iPhone X demand.”

Apple told media outlets it experienced “off the charts” demand.

“We are thrilled to be taking orders for iPhone X, the future of the smartphone,” Apple said in a statement. “We can see from the initial response, customer demand is off the charts. We’re working hard to get this revolutionary new product into the hands of every customer who wants one, as quickly as possible.”

The long wait time is attributed to production issues the iPhone X has faced over the past several months, especially with its new Face ID facial-recognition cameras and sensors. Because of the technology’s need for accuracy, fragile cameras and microscopic parts, suppliers have faced difficulty meeting Apple’s expectations.

Bloomberg last week reported that Apple agreed to lower the accuracy of its Face ID sensors to boost production; Apple called the report “completely false.”

Apple is expected to have a much smaller volume of iPhone X units available in 2017. Japanese business news outlet Nikkei reported Apple had 20 million of the devices in stock for 2017, half of what the Cupertino tech giant initially expected.

Apple CEO Tim Cook said last week in a BuzzFeed interview that “we’ll be working as hard as possible to make as many as possible.”

For those needing instant gratification, the iPhone X will be available next Friday at 8 a.m. in Apple stores around the world. But due to the limited supply, it may be that each store will have fewer iPhones than usual for these public spectacles.

Apple advised fans to arrive early to get in line, but they can also order online to get on the current pre-order waitlist.